Michael Woods Sells 139 Shares of Stock Yards Bancorp (NASDAQ:SYBT) Stock

Stock Yards Bancorp, Inc. (NASDAQ:SYBT) VP Michael Woods sold 139 shares of the firm’s stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $79.02, for a total value of $10,983.78. Following the completion of the transaction, the vice president directly owned 901 shares in the company, valued at $71,197.02. This trade represents a 13.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Stock Yards Bancorp Price Performance

NASDAQ SYBT traded down $0.31 during trading hours on Tuesday, reaching $78.50. The company’s stock had a trading volume of 36,317 shares, compared to its average volume of 170,130. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.26. The firm’s 50-day moving average price is $81.60 and its 200-day moving average price is $74.49. Stock Yards Bancorp, Inc. has a 1 year low of $61.51 and a 1 year high of $89.21. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 15.64 and a beta of 0.66.

Stock Yards Bancorp (NASDAQ:SYBT) last announced its quarterly earnings results on Wednesday, July 29th. The bank reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.23. Stock Yards Bancorp had a net margin of 25.41% and a return on equity of 13.39%. The company had revenue of $114.71 million for the quarter, compared to the consensus estimate of $111.66 million. On average, equities research analysts predict that Stock Yards Bancorp, Inc. will post 5.16 EPS for the current fiscal year.

Stock Yards Bancorp Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 21st will be given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a dividend yield of 1.7%. This is a boost from Stock Yards Bancorp’s previous quarterly dividend of $0.32. The ex-dividend date is Monday, September 21st. Stock Yards Bancorp’s dividend payout ratio (DPR) is presently 25.50%.

Institutional Trading of Stock Yards Bancorp

Several institutional investors have recently added to or reduced their stakes in the stock. Oxford Financial Group LTD. LLC acquired a new position in Stock Yards Bancorp in the second quarter valued at approximately $11,063,000. Sei Investments Co. increased its stake in Stock Yards Bancorp by 182.6% in the 1st quarter. Sei Investments Co. now owns 55,087 shares of the bank’s stock valued at $3,652,000 after buying an additional 35,592 shares during the period. Deprince Race & Zollo Inc. raised its position in Stock Yards Bancorp by 11.4% during the first quarter. Deprince Race & Zollo Inc. now owns 126,497 shares of the bank’s stock valued at $8,385,000 after acquiring an additional 12,937 shares in the last quarter. BlackRock Inc. bought a new stake in shares of Stock Yards Bancorp during the 2nd quarter worth about $165,219,000. Finally, Field & Main Bank bought a new position in shares of Stock Yards Bancorp in the second quarter valued at approximately $82,676,000. 56.46% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SYBT shares. Piper Sandler restated a “neutral” rating and set a $81.00 price target (up from $78.00) on shares of Stock Yards Bancorp in a research note on Friday, June 26th. Hovde Group cut Stock Yards Bancorp from an “outperform” rating to a “market perform” rating and upped their price target for the stock from $82.00 to $90.00 in a report on Thursday, July 30th. Stephens set a $87.00 price objective on Stock Yards Bancorp and gave the company an “equal weight” rating in a research note on Thursday, July 30th. Keefe, Bruyette & Woods boosted their target price on Stock Yards Bancorp from $82.00 to $94.00 and gave the stock a “market perform” rating in a research report on Friday, July 31st. Finally, Raymond James Financial started coverage on Stock Yards Bancorp in a report on Wednesday, July 8th. They issued a “hold” rating on the stock. One analyst has rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Stock Yards Bancorp has a consensus rating of “Hold” and a consensus price target of $88.00.

Stock Yards Bancorp Company Profile

Stock Yards Bancorp, Inc is a financial holding company headquartered in Louisville, Kentucky. Its principal subsidiary, Stock Yards Bank & Trust Company, provides a range of banking and financial services to individuals, businesses, institutions and government entities.

Stock Yards Bank offers commercial and consumer deposit accounts, residential and commercial real estate lending, business loans, personal loans, treasury management and other traditional banking products. Through its wealth management operations, the company also provides investment management, trust, estate planning and related fiduciary services.

Founded in 1904, Stock Yards Bancorp serves customers through banking markets in Kentucky, southern Indiana and the Cincinnati and Columbus areas of Ohio.